Billionaire Ron Perelman, the majority owner of Revlon Inc, said he would seek strategic alternatives for the cosmetics maker.

Perelman's investment company, MacAndrews & Forbes, said in a filing it had not formulated any specific or definitive plan or proposal.

MacAndrews & Forbes has a 77.6 percent stake in the cosmetic company, which has a market capitalization of $1.32 billion.

New York-based Revlon, whose sales have stagnated in the last three quarters, announced a restructuring plan in September to cut costs.

Revlon and rival Avon Products Inc are facing intense competition from online and big-box retailers as well as niche cosmetics makers offering more exclusive brands.

Avon said in December Cerberus Capital Management LP would take a 16.6 percent stake in the company and would buy 80.1 percent of its North American business.

Revlon was not immediately available for comment.

The company's shares had fallen nearly 24 percent in the last 12 months.